Member Info for Invstrat

One of my gripes too R2R ....... our pupettmasters can’t/won’t/ignore existence of - this ‘minor’ debt, and the more recent $73M of course.
If we had a functioning BoD they would be petitioning for an increased % on the PSC to clear off all outstanding debts (+ compound interests on same- which must be gignormous by now of course)...... but no action from them, but then why should they of course as they are collection ridiculous salaries for hiding and achieving nothing to market or progress the company.

That’s exactly how this ‘seat of the pants’ industry runs SS - boom bust boom .... and here we are nearing the end of a golden bust phase with money in the bank and suppliers biting our heads off to place orders for equipment and services.
Time to get a gas reinj plant designed and ordered, drilling contracts signed and sealed, how about diversifying into a mini generating station to sell excess power to their stressed amd irregular grid ...... if only we had a management team able to think outside the box (make that just able to think) and diversify into being a local Energy Company - the beancounters will shoot this to pieces no doubt - but meanwhile opportunities to get things moving are being wasted, we have highly paid staff thumbtwidelling ..... and money is cheap.
Get a grip GKP, stop procrastinating and being afraid of your own shadows, and lets get this show on the road.

The new CEO - if he can begin by making a list of the long (and recent) term debts owed to us by our sole customer, and apply compound interest over the months at the rate described in our contract with them - and then negotiate a revised % on the PSC to claw them back - it would be a start.
Oh and what about that $10M ? we had to pay back them when we couldn’t afford to develop the Bin Adi (?) field - because we didn’t have the resources to develop it - as we hadn’t been paid by them ?
That would be a solid start for the new boy..... as long as he isn’t going to be phased by waking up with his favourite horse’s head sharing his bed - he’ll probably do OK.

Goodish news there from our departing millionaire CEO Jon:
- how is wellhead pressure holding up ?
- what about interest due on the $73.3M ?.... does anyone have the cahoonas to ask the MNR for it ?
- nice hint of things to come our way at the end «further shareholder distributionS»
- worth pointing out to our Masters that if they set aside their personal gains, and work with us to facilitate our increased production goals there is more in it for them too ! (just incase they have missed the point :) )

..... and you bleed off some of the produced gas to drive the turbocompressors to pump it into the structure.
Quite expensive to set up the gas processing and injection system and need to be drilling injection well(s) - but running costs quite cheap. Depends on suitability of the geology too.
Suspect the technology is beyond the ability of the current GKP team - easy-peasy for a major.
Sell up to an IOC (if the MNR can negotiate suitable signing fees) or call in professionals and ‘justdoit.com’.

Don’t think egos are the problem Sh’even ..... its the loss of control to manipulate the hydrocarbon situation to further the massive personal wealths of the tinpots via pilferring which accounts for the root relictance in signing over auditable control to the ICG beencounters.
I’m eternally suspicious of exactly how many bbls are produced at the wellheads vs what is said to be exported and invoiced monthly.... maybe JF and associates are paid a pile of money to stay tight-lipped about the actual figures ??
Note that monthly invoices are not accompanied by montly production figures at wellheads and subsequently backed up by what is metered into pipeline and ultimately invoiced.
If this is the facile ruse behind the ongoing childish ICG/KRG huffiness and the silence of our lambs - it could all be short-circuited that easily.

Jaap appears to be out to pasture with us at GKP after shooting his bolt at Sakah, and now has a cushy number picking up a very healthy retainer for ostensibly doing nothing. He learned keik from JF’s modus operandi.
By the way - the buyback shares were destined in the main as staff awards in 2019 for their tireless professionalism and efforts in reaching 55kbbls/d ...... which of course was never achieved, even now.
That working capital could have been used to wipe out long term loan,, invested in the piggy bank, upgrading plant and infrastructure, hiring professionals, diversifying the business....... no wonder Jaap is in hiding.

I think it is prudent to accept that the $73M will never be paid - as it is already tucked away in private Swizz accounts.
We must remember whom we are dancing with here...... JF should not have allowed subsequent deliveries until the outstanding month’s invoices due were paid. Simple, good practice when running even a small business for and on behalf of it’s shareholders.
Exactly who was JF working for ? Cutting off deliveries, and applying a monthly interest to the outstanding debt were clearly within his power.
His special ‘relationship’ with the MNR appears to have over-rulled his fiducial duties and loyalties to his position as MD to GKP- which he was being vastly overpaid for - clearly took precedence.
The mysterious buy-back fiasco remains a further error of judgement.
Let’s see how Jon #2 performs, and to whom he holds alliance.

Zahawi found Piers a bit more difficult to browbeat than our Jon there. What an exposee.
Piers should have asked him why he craftilly re-registered his property company into a medical one back in June. He must have had prior knowledge from his mate Boris back then that he would be in a powerful position over the Covid procurement and distribution bonanza.
Watch how he exploits this.........
The World’s gone nuts.

Iraq’s problem is facile to solve - repatriate the pilferred $Billions in private accounts, and lock up the pilferrers ....... trouble is that they are the rullers and everyone and anyone in a position of even miniscule authority is guilty as suspected.
Our future monthly invoices may as well be sent to Santa then.

Oh thanks for correction kaaran ...... I omitted to currency convert.

It’s pretty well transparent what Z is up to - but don’t blame him for making a clever buck for his multimillionaire familly ..... question (at the very least) the PM’s naivity and that of the good peoples of Stratford on Avon for voting Z into a position of power.
As I said - watch and learn how to ‘get richer kwik’ ..... remember what he pocketed from us at GKP for contributing absolutely nothing tangible.
Isn’t he a big mate of the MNR hierarchy (and the UK PM ?.
A well deserved knighthood from a gratefull Queen and Nation when his company saves the UK from wipeout.

Will Z-Warren handle ALL Covid vaccin procurement as middlemen for the NHS ?
We should watch Very closely, and learn......

wow it appears that Mr Harris pulled in a superstar $14M at SASOL - can we afford another Jon ?
Wonder if he realises that he’ll be working for the MNR .......

China bailout !
As if...... GKP won’t see a cent of it as the waterfall of approval signing fees and skinoffs from Baghdad down into the hierarchy of tinpots rulling the provinces - will make sure that us Western infidels don’t get even a sniff of it.
As we have plenty of funds (which they will consider as having been stolen from them) in the bank, and can exist on subsistence monthly handouts - as JF et Co. have repeatedly demonstrated- without even a whimper of complaint.
A great start to a New Year...... innit ?

Surely things will get better - the invisible, ‘terrified from the Big Boys in the MNR’ JF departs and an MD with cahunas takes over, PoO continues to hold up, the new MD hires in some serious production oilmen and we eventually get to the elusive, but long promised, 55kbbls/d ...... and the sole customer cuts out some of their weary excuses (and at least some of the pilfering) and actually pays us for what we deliver, on time, and according to the terms of the seemingly worthless PSC...... and Baghdad take over all auditing. I think we can unfortunately write off any longterms debts and related interest due however, as these monies will be safely deposited in private Swizz accounts.
Happier days ahead then :)

Ah - now ...... was the pipeline actually down - or is it just another craft dodge to allow a window of opportunity for pilfering ?
Be wary of everything and anything our masters get up to - and you’ll probably still be missing half of the games being played.
How are they going to get us IOCs to make up the loss in the devaluation of their currency ?
Watch and learn ......

Er - would it be stretching the abilities of our management to list the number of bbls these late/under payments were based on monthly ?
(Probably it would be too easy to identify the pilfering then) ....... so that would be resounding NO when approval was sought from our MNR Masters.
What an object lesson in mis-management this farce will provide for Business Schools to study.

Really feel for China and its need for Energy - but even they dare not get involved with the types we work for it would seem.
If the oil we donate each month to the cause is already pre-sold ..... why would any country or company want to buy us out and get involved with the hassel of late, delayed payments at subsistence levels ?
Hope things get better for us in the New Year - but why would they ? if the tinpots can prolong their skinoff game and ignore historical debts with no consequencies.

With such a healthy bank balanse - must be time for a substantial dividend ? ....... but it must be annoying the hell out of our customer - and that never goes well for us when it comes to settling back debts, or paying for our monthly contributions to their cause.
Hoping for a level playing field in ‘21.